Bitcoin is displaying bearish divergence on the RSI. The divergence suggests that the bulls have exhausted their momentum, and the price will correct to reset the over-brought indicators before any further major price moves.
Note
It may be possible that Bitcoin's retracement to be shallow. The price could form a triangle instead. The indicators would be reset, and it would be seen as a bull flag.
Trade closed manually
It appears that Bitcoin is forming an ascending triangle, which is a bull flag.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.